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Article: Good news on billings front tempered by lending jitters.(Brief article)
- Article from:
- Real Estate Weekly
- Article date:
- September 5, 2007
CopyrightCOPYRIGHT 2007 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A jittery lending environment could impact construction demand, according to the Architect Institute of America.
Up slightly from the 59.3 mark in June, the Architecture Billings Index (ABI) in July reached the second highest mark since the survey's inception in 1995.
As a leading economic indicator of construction activity, the ABI shows an approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the July ABI rating was 60.0 (any score above 50 indicates an increase in billings), and inquiries for new projects was 66.2.
"The good news for the ...